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Microgrid Control System Market By Grid Type (On-Grid, Off-Grid), By Component Type (Hardware, Software), By Ownership Type (Private, Public), By Application (Industrial, Commercial, Utilities, Institutions, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 – 2027

“Increasing government investments in microgrid

 projects coupled with growing adoption of renewable energy sources will boost the market.”

The global microgrid control system market is growing proficiently, projected to grow at a CAGR of 12.0% during the expected period from 2019 to 2027, starting from US$ 2.61 Bn in 2018.

Increased concern for carbon emission, IoT advancements, and communication technologies are the major drivers of the global microgrid control system market. Apart from this, increased usage of microgrid systems in large power plants and the manufacturing industry are the major factors influencing the growth of the global microgrid control system market. Further, the rising clean energy projects and growing adoption of renewable energy sources worldwide are likely to enhance the global microgrid control system market. However, the high cost associated with the installation and maintenance of the microgrid control system could pose a serious threat to the growth of the global microgrid control system market. Due to this, small manufacturing companies are looking for a cost-effective solution for constant power supply. On the other hand, the high cost of microgrid control systems can easily be overcome by the immense advantages offered to consumers, such as reliable power supply, increased power generation capacity, an emphasis on renewable energy generation, and so forth.

Furthermore, the increased government investment in microgrid control systems is likely to increase the growth of the global microgrid control system market. Stringent schemes and initiatives concerning the capping of FiTs in the current industry scenario have obstructed microgrid deployments across European nations. However, the government has continuously focused on distributed power storage technologies in line with the provision of fund flow grants. In addition to the conventional measures across all the European countries, the EU Commission has imposed numerous governmental measures to support renewable integration, which will boost the microgrid control system market.

Market Synopsis

“Increasing electrification of rural and remote areas across the globe will drive the demand for microgrid control systems globally.”

Grid-connected or grid-tied is a completely connected grid network installed to provide energy by the requirements of the corresponding end user. The distinct benefit of being a cost-effective solution among the available microgrid solutions has prompted most house owners and small-sized enterprises to prefer the grid-connected microgrid systems to cater to their respective power requirements. The presence of large-scale grid-tied microgrid networks in university campuses and the military and defense industry has led to an increased rate of adoption of control systems in the market. The upcoming developments toward the evolution of a connected environment have led to large-scale investment by manufacturers establishing a private power network in case of a breakdown in regular sources.

Regional Analysis

“Dominance is led by rising investments in grid expansion coupled with rising demand for microgrid control systems to drive the Asia Pacific market growth.”

Asia-Pacific accounted for a significant portion of the global market for microgrid control systems in 2018 and is expected to register strong growth during the forecast period as well, on the back of increasing investments in grid expansion projects by developing nations such as China and India to boost their distribution grid reliability. Among the countries in the region, China was the largest market for microgrid control systems in 2018. China has the highest installed power generation and distribution capacities, which in turn is resulting in huge demand for microgrid control systems.

The global microgrid control system market is characterized by a diverse group of regional and international manufacturers. The market for microgrid control systems is moderately fragmented. There is very minimal product differentiation which induces vendors to retain their market shares by pricing their products and services competitively. Additionally, established international vendors face intense competition from regional vendors, which provide customers with comparatively low-priced and customized products.

List of Companies Covered:

  • ABB
  • General Electric
  • Siemens
  • Eaton Corporation
  • Emerson
  • Schneider Electric
  • Spiral
  • Schweitzer Engineering Laboratories
  • Etap
  • S&C Electric Company
  • Woodward, Inc.
  • Powersecure, Inc.
  • Ontech Electric Corporation

Key Industry Development:

In January 2018, ABB received orders worth USD 40 million from the Indonesian government to strengthen the country’s power grid. It includes a consortium comprising Doosan Heavy Industries and PT Hutama Karya, a state-owned construction company, to upgrade and expand the Muara Tawar combined cycle power plant in West Java, Indonesia. The innovative project will add 650 MW of electricity to the national grid.

Historical & Forecast Period

This study report represents an analysis for each segment from 2017 to 2027, considering 2018 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Segmentation Grid Type (2017–2027; US$ Bn)

  • On-Grid
  • Off-Grid

 Component Type (2017–2027; US$ Bn)

  • Hardware
  • Software

 Ownership Type (2017–2027; US$ Bn)

  • Private
  • Public

 Application (2017–2027; US$ Bn)

  • Industrial
  • Commercial
  • Utilities
  • Institutions 
  • Others (Cities & Municipalities, Defence, etc.)

 Geography (2017–2027; US$ Bn)

  • North America (U.S., Canada)
  • Europe (U.K., Germany, Spain, Italy, Rest of Europe)
  • Asia Pacific (Japan, China, India, Rest of Asia Pacific)
  • Rest of the World (Latin America, Middle East & Africa)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better understanding of the overall microgrid control system market. The global report also comprises a graphical representation of the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

Frequently Asked Questions:

The market for Microgrid Control System is expected to reach US$ XX Bn in 2028.

The Microgrid Control System market is expected to see significant CAGR growth over the coming years, at 12.0%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

ABB, General Electric, Siemens, Eaton Corporation, Emerson, Schneider Electric, Spirae, Schweitzer Engineering Laboratories, Etap, S&C Electric Company, Woodward, Inc., Powersecure, Inc. are some of the major players in the global market.

 

 

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Apr 2020
Category:  Energy
Report ID:   60272
Report Format:   PDF
Pages:   120
Rating:    4.5 (40)
Delivery Time: 24 Hours to 48 Hours   
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